Phoenix. Overview The following example demonstrates the way in which the performance of an Underlying could result in a positive, neutral and negative return on the Notes. The Notes will pay interest and redemption amounts determined in accordance with the Phoenix formula as specified on pages 290 et seq. of the Base Prospectus. The Phoenix may pay a conditional or guaranteed Interest Amount on each Payment Date. If applicable, Noteholders may benefit from the Memory Effect, which triggers payment of any previously unpaid interest amounts. Automatic Early Redemption of the Notes may occur during the term of the Notes. The Final Redemption Amount per Note may be less than the Nominal Amount, or even be equal to zero. Worked Example The scenario below is based on an Equity Linked Note (single share) allowing the Noteholders to receive a conditional Interest Amount of 2.50% per interest period (the PhoenixCoupon) in exchange of an exposure to the negative performance of the Underlying on the Maturity Date if the Notes have not been early redeemed before. Memory Effect is applicable. The Interest Amount per Note payable on each Payment Date(t) shall be determined by the Calculation Agent on each corresponding Valuation Date(t) in the Specified Currency in accordance with the following formula: () = × [() + (() – ()) × ()] With: UpsideCondition(t)=1 if BasketPerf(t)≥ H(t) =0 if not Where, for the purposes of this worked example only: “Coupon1(t)” means 0.00%
Appears in 1 contract
Samples: Uk Debt Issuance Programme
Phoenix. Overview The following example demonstrates the way in which the performance of an Underlying could result in a positive, neutral and negative return on the Notes. The Notes will pay interest and redemption amounts determined in accordance with the Phoenix formula as specified on pages 290 283 et seq. of the Base Prospectus. The Phoenix may pay a conditional or guaranteed Interest Amount on each Payment Date. If applicable, Noteholders may benefit from the Memory Effect, which triggers payment of any previously unpaid interest amounts. Automatic Early Redemption of the Notes may occur during the term of the Notes. The Final Redemption Amount per Note may be less than the Nominal Amount, or even be equal to zero. Worked Example The scenario below is based on an Equity Linked Note (single share) allowing the Noteholders to receive a conditional Interest Amount of 2.50% per interest period (the PhoenixCoupon) in exchange of an exposure to the negative performance of the Underlying on the Maturity Date if the Notes have not been early redeemed before. Memory Effect is applicable. The Interest Amount per Note payable on each Payment Date(t) shall be determined by the Calculation Agent on each corresponding Valuation Date(t) in the Specified Currency in accordance with the following formula: (𝐏𝐡𝐨𝐞𝐧𝐢𝐱𝐂𝐨𝐮𝐩𝐨𝐧(𝐭) = 𝐂𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐀𝐦𝐨𝐮𝐧𝐭 × [(𝐂𝐨𝐮𝐩𝐨𝐧𝟏(𝐭) + ((𝐂𝐨𝐮𝐩𝐨𝐧𝟐(𝐭) – (𝐌𝐞𝐦𝐨𝐫𝐲𝐂𝐨𝐮𝐩𝐨𝐧(𝐭)) × (𝐔𝐩𝐬𝐢𝐝𝐞𝐂𝐨𝐧𝐝𝐢𝐭𝐢𝐨𝐧(𝐭)] With: UpsideCondition(t)=1 UpsideCondition(t) =1 if BasketPerf(t)≥ H(t) =0 if not Where, for the purposes of this worked example only: “Coupon1(t)” means 0.00%
Appears in 1 contract
Samples: Uk Debt Issuance Programme
Phoenix. Overview The following example demonstrates the way in which the performance of an Underlying could result in a positive, neutral and negative return on the Notes. The Notes will pay interest and redemption amounts determined in accordance with the Phoenix formula as specified on pages 290 279 et seq. of the Base Prospectus. The Phoenix may pay a conditional or guaranteed Interest Amount on each Payment Date. If applicable, Noteholders may benefit from the Memory Effect, which triggers payment of any previously unpaid interest amounts. Automatic Early Redemption of the Notes may occur during the term of the Notes. The Final Redemption Amount per Note may be less than the Nominal Amount, or even be equal to zero. Worked Example The scenario below is based on an Equity Linked Note (single share) allowing the Noteholders to receive a conditional Interest Amount of 2.50% per interest period (the PhoenixCoupon) in exchange of an exposure to the negative performance of the Underlying on the Maturity Date if the Notes have not been early redeemed before. Memory Effect is applicable. The Interest Amount per Note payable on each Payment Date(t) shall be determined by the Calculation Agent on each corresponding Valuation Date(t) in the Specified Currency in accordance with the following formula: (𝐏𝐡𝐨𝐞𝐧𝐢𝐱𝐂𝐨𝐮𝐩𝐨𝐧(𝐭) = 𝐂𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐀𝐦𝐨𝐮𝐧𝐭 × [(𝐂𝐨𝐮𝐩𝐨𝐧𝟏(𝐭) + ((𝐂𝐨𝐮𝐩𝐨𝐧𝟐(𝐭) – (𝐌𝐞𝐦𝐨𝐫𝐲𝐂𝐨𝐮𝐩𝐨𝐧(𝐭)) × (𝐔𝐩𝐬𝐢𝐝𝐞𝐂𝐨𝐧𝐝𝐢𝐭𝐢𝐨𝐧(𝐭)] With: UpsideCondition(t)=1 if BasketPerf(t)≥ H(t) =0 if not Where, for the purposes of this worked example only: “Coupon1(t)” means 0.00%
Appears in 1 contract
Samples: Uk Debt Issuance Programme
Phoenix. Overview The following example demonstrates the way in which the performance of an Underlying could result in a positive, neutral and negative return on the Notes. The Notes will pay interest and redemption amounts determined in accordance with the Phoenix formula as specified on pages 290 276 et seq. of the Base Prospectus. The Phoenix may pay a conditional or guaranteed Interest Amount on each Payment Date. If applicable, Noteholders may benefit from the Memory Effect, which triggers payment of any previously unpaid interest amounts. Automatic Early Redemption of the Notes may occur during the term of the Notes. The Final Redemption Amount per Note may be less than the Nominal Amount, or even be equal to zero. Worked Example The scenario below is based on an Equity Linked Note (single share) allowing the Noteholders to receive a conditional Interest Amount of 2.50% per interest period (the PhoenixCoupon) in exchange of an exposure to the negative performance of the Underlying on the Maturity Date if the Notes have not been early redeemed before. Memory Effect is applicable. The Interest Amount per Note payable on each Payment Date(t) shall be determined by the Calculation Agent on each corresponding Valuation Date(t) in the Specified Currency in accordance with the following formula: () = 𝐂𝐚𝐥𝐜𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐀𝐦𝐨𝐮𝐧𝐭 × [(𝐂𝐨𝐮𝐩𝐨𝐧𝟏(𝐭) + ((𝐂𝐨𝐮𝐩𝐨𝐧𝟐(𝐭) – (𝐌𝐞𝐦𝐨𝐫𝐲𝐂𝐨𝐮𝐩𝐨𝐧(𝐭)) × ()] With: UpsideCondition(t)=1 if BasketPerf(t)≥ H(t) =0 if not Where, for the purposes of this worked example only: “Coupon1(t)” means 0.00%
Appears in 1 contract
Samples: Uk Debt Issuance Programme